Usually for this purpose he asks the importer to send a letter of credit to him. It contains the instructions from the importer so as to the quantity and quality of goods required, methods for forwarding them. With over 100 tables and figures and a plethora of Web sites and Internet addresses to visit, this excellent text assists you in understanding the theories, practices, and procedures of exporting and importing to help you make informed and profitable business decisions. If so, does the repair quality restore the original strength and weather-proof integrity? However, in specific cases national accounts credit changes of ownership even though in legal terms no change of ownership takes place such as cross border financial leasing, cross border deliveries between affiliates of the same enterprise, goods crossing the border for significant processing to order or repair. Letter of Credit, commercial invoice, etc.
Other areas you will examine include: documentation, risks, and different forms of insurance price setting in international trade export sales contracts documenting export-import trade the risks of foreign trade exchange rates and international trade methods of payment for exporting and importing goods the benefits and theories of countertrade the entry process for imports import relief to domestic industry Export-Import Theory, Practices, and Procedures covers everything you need to know to start and run an export-import business. Shipping bill 4-5 copies ii. To cope with these challenges, firms are discovering logistics as a competitive weapon when looking for ways to strengthen and preserve their market positions. Depending upon the export product and the importing country, the export contracts may differ, but an exporter should take care of the following aspects: i. It would be intresting to students studying for the International Trade examinations. Inquiries or orders may come from potential customers through company website where the destination is not identified.
Packaging, Marking, and Labeling of Goods : Proper packaging of export cargo facilitates in minimizing transit and delivery costs and losses. Inspection requirements for quality, quantity, and packaging as per the inspection agency viii. For many companies, export begins in the sale or marketing department. The imports of goods have to follow a procedure. The original endorsed copy is handed over to the exporter and the duplicate is sent to the concerned central excise authorities. The exporter has to apply to the nominated export inspection agency for conducting the pre-shipment and quality control inspection for the export consignment and obtain an inspection or quality certificate conforming to the prescribed specifications. Documentary requirement for payment realization include number and type of invoices, certificate of inspection, certificate of origin, insurance policy, transport document.
Consignment-wise quality control The pre-shipment inspection should be completed before the consignment is sealed by the excise authorities. It is recommended that exporters conclude and comply with the written contract rather than relying on verbal agreements so as to avoid future disputes. Forwarding note a railway document ii. The exporter is returned the original copy of bank certificate along with attested copies of commercial invoice. Arranging overseas transport service ix.
International trade professionals, researchers, students, and members of chambers of commerce will benefit from concepts and theories that explain international trade operations and give clearly defined goals and procedures for your business. This number needs to be mentioned in various international trade documents, including shipping bill or bill of entry as the case may be. Packaging, Marking, and Labeling of Goods and Others. One successful solution has been the adoption of Just-in-Time manufacturing systems, which involve many functional areas of a firm such as manufacturing, engineering, marketing, and purchasing, among others. Payment terms, including currency, credit period, if any, and mode of payment, such as Letter of Credit including type of Letter of Credit, such as revocable, irrevocable, confirmed, unconfirmed, etc. This inspection certificate would be required for customs clearance of cargo before shipment. This Subject Has Gained Importance, As Doors Of Employment Have Been Opened On This New Front With The Increasing Pace Of Exports.
Click Download or Read Online button to get import and export procedures documentation book now. Declaration form in triplicate by the exporter that the value, specifications, quality, and description of goods mentioned in the shipping bill are in accordance with the export contract and statement made in shipping bill are true. With over 100 tables and figures and a plethora of Web sites and Internet addresses to visit, this excellent text assists you in understanding the theories, practices, and procedures of exporting and importing to help you make informed and profitable business decisions. This subject has gained importance, as doors of employment have been opened on this new front with the increasing pace of exports. Registration with export promotion organization : For obtaining benefits under the foreign trade policy, an exporter is required to get registered with an appropriate export promotion organization relating to his or her main line of exports. Arranging Cargo Insurance : The marine insurance cover is arranged by the export department soon after receiving the documents and obtaining insurance policy in duplicate. The central excise authorities put their seal on the cargo after its examination and their satisfaction.
For having the physical examination carried out by the dock appraiser, the following documents need to be submitted: i. Concluding an Export Deal 3. This process of change got accelerated after the enactment of the Foreign Exchange Management Act, 1999. Decisions regarding how to load a container can be divided into two steps: first, the type of container that is required and second, how to load the merchandise itself. Letter of credit original , where applicable iv. Original letter of credit vi. Rama Gopal is a senior member of three professional institutes-Fellow of institute of Charted Accountants of India, Fellow of Institute of Company Secretaries of India and Associate Member of Indian Institute of Bankers.
A manufacturer's import department often grows out of the purchase department, whose personnel have been assigned the responsibility of procuring raw material or components for the manufacturing process. In this book, all the topics have been dealt in a systematic manner. Packing list if any vii. Certificate of origin The payment is made by the negotiating bank on receipt of these documents. This process of change got accelerated after the enactment of the Foreign Exchange Management Act, 1999. The basic objectives of customs control are: i. Labeling contains detailed instructions and is carried out by affixing labels on the packs or by stencils.